There is not one single home currently for sale in San Francisco that would be affordable for the average teacher to buy. This sobering stat comes from new Redfin research that compared the average salaries of teachers across California to home prices in the state. In San Francisco, where the median teacher salary in 2012 was $59,700, Redfin calculated that an home affordable for someone making that much each year would cost $220,000. There are no listings at that price point currently available in the city.
83% of homes for sale in California are unaffordable on the average teacher's salary. The state has 300,000 elementary, middle and high school teachers who make an average annual salary of $69,300, which puts California's median home price of $485,000 well out of reach. San Francisco had the worst affordability level for teachers in the state, but nearby San Mateo was close with only seven homes for sale that would be affordable for the average teacher. In Marin, however, a teacher could afford a two-bedroom, one-bathroom 903 square foot condo, according to Redfin. The most affordable county in California for a teacher is San Bernadino, where a a four-bed, three-bath house is within reach.
·83 Percent of California Homes Unaffordable on a Teacher's Salary [Redfin Research]